Not sure if you have been on holidays but what Magnis got last week was better than what the commission will serve up.
Amendments to original SEZ license increases value-addition from the Nachu Graphite Project
• Magnis to progress development plans given stability provided by amended SEZ
•SEZ license permits 100% ownership by Magnis Resources Limited
• Legislative amendments allow for International Arbitration if disputes arise
• Revenues from product sales to be paid into overseas bank accounts – defraying major sovereign risk
• Fiscal stability ensured with a range of incentives including a favourable 10-year corporate tax-free period
No tax on the processed sales of graphite. And that money goes to whatever Bank account in the world they want it to go to.
The mining side of it is the least of our worries. Who cares if the government takes the 16% free carry? There might be $5 a tonne profit in an estimated $16 a tonne dug up and dropped on the ROM belt. Mate you are talking peanuts. Other Tanzanian companies are the ones who should be worried. The ones with no tax breaks and giving up the 16% plus other taxes.
Can you imagine any of those other companies saying to the government "unless we get what Magnis is getting we are leaving the country"? After the ministers take a second to breathe again after fits of laughter they would say see you later imo.
You think about it
@564xxl, those concessions that Magnis asked for and got were enormous. Let's see how the others do. Personally I believe that if Magnis UNX said no to the 16% free carry they would get that as well but why be greedy?
) - fingers crossed
(20min delay)